Google has been tad of a Sleeping Giant in Blockchain | Sharp Credit – Finance News, Credit Help, Cryptocurrency exchange

admin

Google has been tad of a Sleeping Giant in Blockchain By Sharp Credit – Credit News – Credit Information When it comes to cloud computing, Google is far behind Amazon and Microsoft. Last year… Google pocketed an estimated $3 billion in revenue from cloud services. Amazon entered blockchain in a big way in 2018 with…

Google has been tad of a Sleeping Giant in Blockchain By
Sharp Credit – Credit News – Credit Information When it comes to cloud computing, Google is far behind Amazon and Microsoft. Last year… Google pocketed an estimated $3 billion in revenue from cloud services. Amazon entered blockchain in a big way in 2018 with a suite of tools for building and managing distributed ledgers. Microsoft got into the space in 2015, when it released tools for Ethereum’s blockchain. It now hosts a range of services as part of its Azure Blockchain Workbench. This is where things get interesting. Last year Allen Day, a data scientist at Google and a small team of open-source developers quietly began loading data for the entire Bitcoin and Ethereum blockchains into Google’s big-data analytics platform, BigQuery. Then, with the help of outside developer Evgeny Medvedev, he created a suite of sophisticated software to search the data.

Normally, you and i would pull up a Block Explorer to go through individual transactions. Google’s Blockchain ETL lets users make more generalized searches of the Entire Ecosystems of the Transactions . To put this into an illustration, Day analyzed the Hard Fork of Bitcoin in the summer of 2017, leading to the inception of Bitcoin Cash. As we know, there was when there was a disagreement between a group who wanted to leave Bitcoin as it was, against those who wanted to develop a currency that had aspects of cash; cheaper and faster to use for smaller payments.

As permission-less chains along with their data is publicly available, it’s no doubt Google would have a sleight of hand when it comes to data analysis. Last December at the Singapore Hackathon, a Warsaw-based programmer and the creator of a service that analyzes smart contracts: Tomas Kolinko, used Google’s tools to search for a smart contract feature called “selfdestruct,” designed to limit a contract’s life span. Using his own software in conjunction with Day’s, Kolinko took 23 seconds to search 1.2 million smart contracts —something that would have taken hours before.

Last August, a Dutch developer named Wietse Wind uploaded the entire 400 gigabytes of transaction data from Ripple’s XRP blockchain , another popular cryptocurrency, into BigQuery. Wind’s data, which he updates every 15 minutes, prompted a Danish designer named Thomas Silkjaer to create a heat map of crypto flows. The resulting colorful orb reveals at a glance more than a million crypto wallets, including big ex­changes like Binance and London’s crypto debit card startup Wirex, which are neck deep in XRP transactions. Take a look at this visualized BigQuery map of XRP addresses, the craters represent some of cryptocurrency’s largest exchanges: https://xrpcommunity.

blog/the-full-xrp-ledger-visualized/ Key Questions What are the implications of importing other public blockchain data for analysis such as ICON , AION, or NEO Will obfuscation of transactions on public networks be several clicks away from exposure for full history?(note: since privacy isn’t a feature of the following projects) How far can one analyse Hybrid Chains like AERGO which utilizes Blocko’s private chain, COINSTACK that’s deployed on a Public Network? What are the limitations of privacy and potential for exploitation on a semi private blockchain like that? Will Google also Become the Search Engine for Blockchains very soon? If addresses can be labelled and analyzed with deep scrutiny, are Privacy Tokens and Atomic Swaps a potential solution to achieve Privacy? The leverage the data giant Google has makes me shudder on the possibilities, but I suppose I will leave it to the wishful thinking that it’s to be used in good faith to protect the communities in the cryptospace… Naive much? This post has been extracted from Forbes to promote discussion and cut to key points. .

Leave a Reply

Next Post

Tron Is On A Bearish Trend Currently

Tron Is On A Bearish Trend Currently March 1, 2019 Facebook Tron is a blockchain based, a decentralized platform for the global digital entertainment industry. It was developed and invented by Justin Sun. The protocol of Tron (TRX) is built in such a format that it enables developers for creating decentralized applications and smart contracts…

Subscribe US Now